Revenue decreased 6.9% but higher than preceding year corresponding quarter 76.2%, eps decreased 6.1% but higher than preceding year corresponding quarter 16.7%, cash generated from operating enough to cover financing expenses but still spent 12.8% of Group cash to cover investing expenses, total current assets still increased which can indicate business still good prospect, gross margin lower than preceding year corresponding quarter 4% but still higher than average of 19%/qrt, liquidity ratio indicate group still tight enough to meet current obligation with condition maintain inventory liquid, gearing ratio indicate group can manage to utilize high financial leverage to generate more income, all accounting of turnover period still long time but is improving

First Support Price

1.65

Second Support Price

1.5

Risk Rating

MODERATE

Research House

Jupiter Target Price

1.82 (2012-08-07)

Accounting Ratio

Return on Equity

30.56%

Dividend Yield

7.27%

Gross Profit Margin

20.20%

Operating Profit Margin

13.30%

Net Profit Margin

13.13%

Tax Rate

26.93%

Asset Turnover

0.9232

Net Asset Value Per Share

1.49

Net Tangible Asset per share

1.46

Price/Net Tangible Asset Per Share

1.12

Cash Per Share

0.57

Liquidity Current Ratio

1.3407

Liquidity Quick Ratio

0.6772

Liquidity Cash Ratio

0.2212

Gearing Debt to Equity Ratio

1.7765

Gearing Debt to Asset Ratio

0.6376

Working capital per thousand Ringgit sale

23.0%

Days to sell the inventory

204

Days to collect the receivables

177

Days to pay the payables

150

Technical Analysis

SMA 10

1.639 (Downtrend)

SMA 20

1.654 (Downtrend 10 days)

SMA 50

1.674 (Downtrend)

SMA 100

1.644 (Uptrend)

SMA 200

1.511 (Uptrend)

MACD (26d/12d)

-0.008608 ( 0.001198 )

Signal (9)

-0.007692 ( 0.000229 )

MACD Histogram

0.000916 (Bearish trend 9 days)

Bolinger Upper Band

1.692

Bolinger Lower Band

1.616

My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue and pbt than FY11Q3 mainly due to increase in sales from crane segment which due to global recovery in investment in equipment and good execution of several high margin projects

- Higher pbt than FY12Q2 mainly contributed by improvement in margin from sales of cranes